If Workers Respond to an Increase in the Opportunity Cost

question 260

Multiple Choice

If workers respond to an increase in the opportunity cost of leisure by taking more leisure,then their labor supply curve is

• A) upward sloping.
• B) backward sloping.
• C) horizontal.
• D) vertical.

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Definitions:

Selfish Craving

An intense desire or want for something that prioritizes one’s own needs or pleasures over the well-being of others.

Four Noble Truths

Fundamental principles of Buddhism that outline the nature of suffering, its cause, its cessation, and the path leading to its cessation.

Attunement of Names

The process of bringing names into harmony or appropriate correlation, often in a symbolic or significant context.

Character Formation

The process of developing and shaping one's personal traits, ethics, and behaviors over time.